In the city of Ypane, Lidia G. de González contacted her friends and neighbors and told them about the committee. She shared with these women her desire to change their world for the better by working very hard. Lidia’s hopeful words stimulated optimism among these women and they decided to form the Committee “La Esperanza” (Hope). All the members of “La Esperanza” dream of opening their own store to offer various products and services. In addition, what motivates them and makes them work extremely hard is their collective desire to give their children an opportunity to go to college or to school.
Among the many businesses they operate are: hair saloons, despensas (grocery stores), copetines (mini bar-restaurants), sewing shops, and shops where clothing, cosmetics, vegetables and fruits are sold. The money provided by the requested credit will be used to buy cosmetics, hair accessories, fabrics, bottoms, threads, fruits, vegetables, brushes and other such products.
About Fundación ParaguayaFundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid